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Financial overhaul divides Congress

Guests

Jennifer Liberto: Senior writer for CNNMoney.com.

Mark Calabria: Director of financial regulation studies at the Cato Institute. He spent six years as a member of the senior professional staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs.

David Minn: Associate director for financial markets policy at the Center for American Progress.

Senate Republicans say they will oppose most new regulations intended to prevent a financial meltdown. They charge Democrats are playing politics with a civil suit against Goldman Sachs. Last week, the Securities and Exchange Commission sued the Wall Street firm, saying it defrauded investors by misleading them on toxic assets. Goldman Sachs says the suit is baseless.